CID seizes Tk400cr worth of assets linked to ex-Minister Gazi

The Criminal Investigation Department (CID) has confiscated around Tk400 crore worth of immovable assets belonging to former textiles and jute minister and former lawmaker from Narayanganj-1 (Rupganj), Golam Dastagir Gazi, in connection with allegations of illegal wealth accumulation through organised crime.

According to CID sources, Golam Dastagir is accused of forcibly occupying land, taking commissions, forgery, fraud, hundi transactions, and involvement in under-invoicing and over-invoicing practices. These activities allegedly enabled him to acquire a vast amount of wealth.

The confiscated assets include 69 land deeds in the Khaodun area under Rupganj Police Station in Narayanganj district, covering a total of 4,879.92 decimals of land. While the deed value of the property stands at Tk16,52,84,000 (over Tk16.5 crore), the current market value — including land, the premises of Gazi Tyres, and associated infrastructure — is estimated to be nearly Tk400 crore.

CID’s Financial Crime Unit found that the properties were acquired between 2015 and 2018.

Acting on a petition filed by the investigating officer, the Senior Special Judge of the Dhaka Metropolitan Sessions Judge Court issued the order for confiscation of property on 8 July, says a press release from CID media wing on Wednesday.

Investigations into money laundering are ongoing against Gazi, his business entities, and several members of an alleged criminal network linked to him.

CID is also probing allegations of money laundering and illegal fund transfers abroad, with actions being taken under the Money Laundering Prevention Act.

Authorities have already sent letters to various agencies to collect document-based evidence and further information in this regard.